NEW YORK @ CONSENSUS 2018, May 16, 2018 (GLOBE NEWSWIRE) -- The music, film and entertainment visionaries behind groundbreaking new entertainment venture Kind Heaven today announced the initial coin offering (ICO) of its own cryptographic token, Yala Coin, to support its entertainment experience and creative ecosystem. Kind Heaven will initiate its private ICO for the development of the state-of-the-art, completely immersive entertainment experience opening to the public in 2019 at the Caesars Entertainment-owned LINQ Promenade, in the heart of the busiest section of the Las Vegas strip.
“Lollapalooza forever changed the way fans experience live entertainment. And now, Kind Heaven is shaping what that type of experience looks in the 21st century,” said Perry Farrell, Kind Heaven co-founder. “It only makes sense that this unique, immersive, 21st century experience and community will be supported by the kind of cashless, secure and decentralized economy that these same fans have come to expect and demand.”
Kind Heaven will leverage state-of-the-art RF technology, holographic mixed reality, and advanced wearable tech to not only create a personalized experience for each visitor, but also a cash-free environment enabling frictionless food, beverage and retail sales. Using the Yala Coin, visitors to Kind Heaven will be able to access products, goods, experiences, and spiritual adventures through an entirely new medium. In addition, Yala Coin holders will be able to receive exclusive content and exclusive access to the groundbreaking experience, access to tickets, VIP pop-up events and personalized content on Kind Heaven’s platform. The Yala Coin itself will be a Ethereum ERC20 cryptographic token, the accepted standard for cryptocurrency project smart contracts.
“The traditional mechanisms of capital fundraising are slow and outdated. By having an independent, decentralized token, we are able to build a truly global brand that can hit the ground running from day one. For Kind Heaven, being one of the earliest adopters of this innovative approach to finance not only makes logistical sense, but community sense,” said Cary Granat, CEO Immersive Artistry.
Kind Heaven is the result of a partnership between Farrell, who created and launched the Lollapalooza franchise that revolutionized the modern music festival; and Immersive Artistry, whose award-winning co-founders have been responsible for major Hollywood fantasy film franchises. Kind Heaven’s visionary team includes Immersive Artistry CEO Granat (also founder and former CEO of Walden Media, former President and COO Miramax/Dimension Films); President Ed Jones (Academy® Award-winning visual effects pioneer, Star Wars’ The Empire Strikes Back and Return of the Jedi, Indiana Jones, E.T., Who Framed Roger Rabbit?); and Farrell who not only launched Lollapalooza, but is also the frontman for the groundbreaking alternative rock band Jane's Addiction.
The vision for Kind Heaven was created by Farrell, and it will feature a unique soundscape that he and his team will curate. Through the use of leading-edge technology, and Hollywood-style storytelling, Kind Heaven at the LINQ Promenade will provide a wide variety of experiences exploring the culture of Southeast Asia, from dark and mysterious back alleys to a Forest Temple and beautiful Sanctuary. Kind Heaven will be family-friendly by day and adult at night, offering a 360-degree sensory, kaleidoscopic journey, including the best in music, food, danger, fashion, exploration, mystery and spiritual enlightenment.
Kind Heaven's legal adviser on the ICO is Kleinberg Kaplan, led by corporate partner Jonathan Ain.
About Perry Farrell
Perry Farrell is an entrepreneur, philanthropist and Grammy nominated singer-songwriter, best known as the frontman for the legendary alternative rock band Jane's Addiction. After forming in 1986, Jane’s Addiction became known as the founders of Alternative Rock, influencing the biggest bands of the 90’s including Nirvana, Rage Against the Machine, Alice in Chains, and Pearl Jam. Their songs "Stop", "Been Caught Stealing" and "Just Because" reached #1 on the US charts. His band has also been nominated for the Rock & Roll Hall of Fame.
Farrell created the wildly successful touring festival Lollapalooza in 1991. After an incredible 13 year run as an alternative event that brought the underground to the forefront of popular culture, Lollapalooza has since evolved into the model for modern day music festivals, with 3 and 4 day events that sell out every year in incredible markets like Chicago, Sao Paulo, Buenos Aires, Santiago, Berlin, and Paris. In Chicago, the flagship event attracts almost 500,000 people every year, and takes in over $200 million in revenues for the various businesses in the city. Farrell continues to produce Lollapalooza with partners William Morris Agency and C3.
About Immersive Artistry
Immersive Artistry (IA) believes the future of entertainment is about the creation of immersive, multisensory, communal experiences that will transport audiences on journeys both shared and unique. The company combines state-of-the-art technology with Hollywood storytelling to create extraordinary 360-degree experiences that involve all the senses. Immersive Artistry is headquartered in Los Angeles. For more information, visit www.immersiveartistry.com.
About Kleinberg Kaplan
Kleinberg Kaplan is a premier, award-winning boutique law firm that provides practical, business-minded legal counsel to entrepreneurs, investors and other industry leaders. With a national and international reputation for representation of private funds, the firm’s clients include an impressive roster of investment funds and emerging companies at all stages of their life cycles, as well as a wide variety of real estate developers, family offices and high-net worth individuals. Kleinberg Kaplan clients get the advantage of a full-service platform that combines extensive Big Law experience with the personalized attention of a boutique firm, true teamwork and an entrepreneurial culture attuned to investments, building businesses and transforming ideas into successful companies.
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THIS PRESS RELEASE DOES NOT CONSTITUTE ADVICE OR A RECOMMENDATION BY KIND HEAVEN LLC AND IMMERSIVE ARTISTRY, THEIR RESPECTIVE DIRECTORS, OFFICERS, MANAGERS, EMPLOYEES, AGENTS, ATTORNEYS, ADVISORS OR CONSULTANTS, OR ANY OTHER PERSON AS TO THE PARTICIPATION IN ANY TOKEN GENERATION EVENT.
THIS PRESS RELEASE DOES NOT CONSTITUTE A PROSPECTUS OR OFFER DOCUMENT OF ANY SORT AND IS NOT INTENDED TO CONSTITUTE AN OFFER OF SECURITIES OR A SOLICITATION FOR INVESTMENT IN SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER OR SOLICITATION IS ILLEGAL. NO PERSON IS BOUND TO ENTER INTO ANY CONTRACT OR BINDING LEGAL COMMITMENT AND NO CRYPTOCURRENCY OR OTHER FORM OF PAYMENT IS TO BE ACCEPTED ON THE BASIS OF THIS PRESS RELEASE. ANY AGREEMENT IN RELATION TO THE KIND HEAVEN CONTENT PLATFORM IS TO BE GOVERNED BY ONLY THE TERMS AND CONDITIONS OF SUCH AGREEMENT AND NO OTHER DOCUMENT.